Standard Deduction

The standard deduction for taxpayers who do not itemize deductions on Form 1040, Schedule A, has increased. The standard deduction amounts for 2022 are:

• Married Filing Jointly or Qualifying Widow(er) – $25,900 (increase of $800)
• Head of Household – $19,400 (increase of $600)
• Single or Married Filing Separately – $12,950 (increase of $400)

Taxpayers who are 65 and Older or are Blind

For 2022, the additional standard deduction amounts for taxpayers who are 65 and older or blind are:

• Single or Head of Household – $1,750 (increase of $50)
• Married taxpayers or Qualifying Widow(er) – $1,400 (increase of $50)